Hero Electric Raises ₹2.2 Billion In Series B Funding
Electric scooter manufacturer Hero Electric has announced that it has raised ₹2.2 billion as the first part of its Series B funding. Gulf Islamic Investments (GII) and Hero Electric’s existing investor OAKS Asset Management (OAKS) led the funding round. The…
India Plans To Set Up Institute To Fund Electric Vehicles-Focused Businesses
The government is planning to set up an institution to fund businesses with a focus on electric vehicles as well as facilitate new financial instruments for lending to the public transportation and commercial vehicle segment, Union minister Nitin Gadkari said….
USA Announces $200 Million In EV Development Funding
The US Department of Energy announces it will provide $200 million over five years for electric vehicle, battery and connected vehicle projects at its 17 national labs, as well as for new partnerships to support electric car innovation. In particular,…
Magenta Power Raises Rs.120 Cr From Indian American Philanthropist Kiran Patel
Magenta EV Solutions, a startup associated with developing changing devices for electric vehicles, announced raising ₹120 crore from Kiran C Patel, an Indian American cardiologist and philanthropist. In 2020, Magenta had raised a pre series funding from JITO Angel Network…
Electric Vehicle Startups Euler Motors And BLive Raise Funding
Euler Motors, an electric vehicle startup, has closed its Series A round at $9.5 million with an additional infusion of $2.6 million (around Rs 18.87 crore). In a statement, the company said it has raised this capital from ADB Ventures,…
Chinese Tesla Rival Xpeng Motors Gets $76 Million Investment From Government
China — Electric carmaker Xpeng Motors has got a new round of investment from the government of the southern Chinese province of Guangdong. The 500 million yuan ($76.9 million) funding from Guangdong Yuecai Investment Holdings Co., the province’s investment arm,…
Volvo Group Venture Capital Invests In EV Charging Software Company Driivz
Volvo Group Venture Capital AB has invested in Driivz Ltd., a global EV charging software company which has developed a platform for managing large charging networks for electric vehicles from end-to-end. The Driivz platform functions as an operating system for…
Electric Vehicle Maker Euler Motors Raises ₹300 Million From Existing And New Investors
Euler Motors, a New Delhi-based electric vehicle (EV) manufacturer, has raised ₹300 million (~$4.1 million) as a part of its ongoing Series A round. The funding was led by existing investors Inventus India, Jetty Ventures, and Sujeet Kumar, Co-founder, Udaan….
Vogo Raises $11.5 Mn Series C Funding To Bolster Electric Two-Wheeler Fleet
Bengaluru-based two-wheeler rental startup Vogo has raised $11.5 Mn in its Series C funding round from existing investors, including Lightrock, Kalaari, Matrix Partners and Stellaris Venture Partners. With its latest funding, Vogo will ramp up its electric two-wheeler fleet, streamline…
Competition Intensifies For Commercial Vehicle Battery Makers
Moving beyond electric vehicles themselves, blank-check companies are targeting battery developers critical to the growing demand for zero-emission commercial vehicles. The most attractive battery-making companies have track records and significant revenue, reducing the risk to investors. The special purpose acquisition…
